Money, choice and control: the financial circumstances of early retirement

Sue Arthur

An examination of the role of finances in people’s decisions about early retirement – the effect of such move on future finances. More people are leaving paid work in their fifties and early sixties, whether deliberately or unwillingly.

This raises concerns about whether people will have enough money for their retirement. This report looks at the role of finances in decisions about early moves out of work, and the effect of such moves on future finances. The report draws on in-depth interviews with people who make an early move towards retirement.

It looks at the importance of money alongside other influences, including health and domestic circumstances. Money, choice and control:

  • sheds light on the relative importance of financial incentives in shaping retirement behaviour;
  • draws on individual life stories to paint a detailed picture of the diverse perspectives of people making early transitions to retirement;
  • explores people's motivations, circumstances and experiences, identifying underlying rationales and explanations for behaviour;
  • feeds into key current policy debates around the future of pensions, and the employment of older and disabled workers.
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